Minutes signal Fed on track to raise interest rates in July

The Marriner S. Eccles Federal Reserve board building. (Image: Bloomberg)

Thu, 06 Jul 2023

Federal Open Market Committee United States Federal Reserve officials struck a tenuous agreement to pause interest-rate increases at their June meeting, all but committing to hike again later this month in a bid to keep fighting stubborn inflation.The minutes from the Fed’s June 13-14 meeting show that while almost all officials deemed it “appropriate or acceptable” to keep rates unchanged in a 5% to 5.25% target range, some would have supported a quarter-point increase instead. “It was a little surprising given tha...

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